AIG may hold emergency meeting on CEO

American International Group Inc. could hold an emergency meeting this weekend to discuss the future of chief executive Martin J. Sullivan, CNBC reported today.
The news follows several weeks of complaints from major shareholders who are displeased with the New York-based insurer’s losses over the past two quarters, stemming from $20 billion in write-downs on subprime-mortgage-linked assets.
Major shareholders, including Eli Broad, a former director of AIG; Shelby Davis, founder of Davis Selected Advisers LP of Tucson, Ariz.; and Bill Miller, chairman and chief investment officer of Legg Mason Capital Management of Baltimore, wrote letters last month calling for a meeting with the board to shake up AIG’s senior management.
An AIG spokesman declined to comment on the report or the meeting.